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When a good is called normal goods ?...

When a good is called normal goods ?

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For normal good, with a rise in income, the demand of he commodity also rises and vica-versa. Shortly, direct relationship exists between the income of a consumer and demand of normal good. For example, a new car, new clothings.
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When a good is called 'Substitute good'?

What is the impact of the following statements on the demand curve for good X ? Give reasons. (a) Consumer's income rises and good X is a normal good. (b)Consumer's income falls and good X is an inferior good. (c ) Price of complementary good Y rises.

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FULL MARKS-DEMAND -NCERT TEXTBOOK QUESTIONS SOLVED
  1. Consider a market where there are just two consumer and suppose their ...

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  2. What do you mean by a normal good?

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  3. When a good is called normal goods ?

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  4. What do you mean by an 'inferior good'? Give some examples.

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  5. Give the meaning of inferior good and explain the same with the help o...

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  6. What do you mean by substitutes? Give examples of two goods which are ...

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  7. What do you mean by complements? Give examples of two goods which are ...

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  8. What is meant by demand ?

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  9. Define market demand.

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  10. Due to rise in price of commodity x the demand of commodity y falls. W...

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  11. Due to rise in price of commodity x the demand of commodity y falls. W...

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  12. How will an increase in the price of petrol affect the demand curve of...

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  13. A fall in the income of the consumer leads to a rise in the demand for...

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  14. What is meant by the law of demand?

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  15. When the demand for a good rises due to a fall in its own price, what ...

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  16. Define 'change in demand'.

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  17. What causes an upward movement along a demand curve of a commodity?

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  18. Give one reason for a shift in demand curve.

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  19. What determines the quantity of a good that the buyers demand for?

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  20. Why market demand curve is flatter?

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